SBI again cuts the rate of Fixed Deposits

State Bank Of India is the biggest bank of the country and for the second time in a month, they have cut the interest rates on fixed deposits, FD. The revised rate of interest will be applied from 10th march. Earlier, on 10th february, they had did the same.

Now, according to the latest rate, the fixed deposits between 7 to 45 days will get 4% from 4.5% earlier. Also, FD that is between a year to less than 5 years will get 5.9% from 6% which they were getting earlier.

And to the people who have the FD between 5 to 10 years will get 5.9% which was 6%.

SBI also said that the senior citizens will keep getting the 50 basis points higher interest that as compared to what is offered to the general public. However, if the amount if less than INR 2 crore, it will be applied.

SBI latest FD rates for general public

7 days to 45 days – 4%

46 days to 179 days – 5%

180 days to 210 days- 5.5%

211 days to less than 1 year – 5.5%

1 year to less than 2 year- 5.9%

2 years to less than 3 years – 5.9%

3 years to less than 5 years – 5.9%

5 years and up to 10 years – 5.9%

SBI latest FD rates for senior citizens

7 days to 45 days – 4.5%

46 days to 179 days – 5.5%

180 days to 210 days- 6%

211 days to less than 1 year – 6%

1 year to less than 2 year- 6.4%

2 years to less than 3 years – 6.4%

3 years to less than 5 years – 6.4%

5 years and up to 10 years – 6.4%

These are the interest rates applied.